Payments banks is an Indian new model of banks conceptualized by the Reserve Bank of India (RBI). These banks can accept a restricted deposit, which is currently limited to ₹100,000 per customer and may be increased further.
These banks cannot issue loans and credit cards. Both current account and savings accounts can be operated by such banks. Payments banks can issue ATM cards or debit cards and provide online or mobile banking. Bharti Airtel set up India's first live payments bank.
List of Payments Banks in India in 2020
|Bank Name||Established||Headquarters||Total Assets|
|Airtel Payments Bank||2017||New Delhi, Delhi|
|India Post Payments Bank||2018||New Delhi, Delhi|
|Jio Payments Bank||2018||Mumbai, Maharashtra|
|Fino Payments Bank||2017||Mumbai, Maharashtra|
|Paytm Payments Bank||2017||Noida, Uttar Pradesh|
|NSDL Payments Bank||2018||Mumbai, Maharashtra|